Aircraft cabin interior Market will Register a CAGR of 2.7% through 2031

 

According to ESOMAR-certified Future Market Insights’ (FMI), the aircraft cabin interior market is expected to expand at 2.70% CAGR throughout the forecast period 2021-2031. The market is highly competitive with United Technologies Corporation, Safran S.A., Diehl Stiftung & Co. KG, HAECO Group, Honeywell International, Inc., and Panasonic Avionics Corporation encompassing around 50% of global market shares.

According to International Civil Aviation Organization, incorporation of low-cost carrier aircrafts in air transport sector has significantly influenced the aircraft cabin interior market. Thriving tourism sector, increase in air traffic, and growing flight iteration are factors driving the market growth.

Surge in new aircraft orders and rising popularity of in-flight entertainment system and aesthetic lighting system will proliferate the market demand in upcoming years. Aircraft cabin interior market is anticipated to grow at a healthy pace owing to increasing demand for custom, luxurious, and comfortable cabin interiors with comfortable and smart seating systems.

Establishment of aircraft manufacturing facilities and associated activities in emerging economies will create lucrative growth opportunity in the global aircraft cabin interior market during the forecast period.

COVID-19 pandemic hampered the aviation industry due to imposition of lockdown and suspension of domestic and international flights across the globe. Increase in overall weight of aircraft, stringent safety regulations and absence of profitable airline services in emerging companies are hindering the market growth.

Key Takeaways from FMI’s Aircraft cabin interior Market Study

·         Rapid production of commercial aircrafts and presence of leading market players in U.S. along with increasing foreign direct investment in aviation industry will bode well for the aircraft cabin interior market growth in U.S.

·         Automotive aircraft cabin interior is expected to grow at a healthy rate in Russia owing to increasing delivery of foreign aircrafts and rising demand for maintenance, and overhauling of multiple components in such aircrafts.

·         Development of narrow body aircrafts by China along with establishment of production centers in the country due to cheap labor and abundance of resources will boost the aircraft cabin interior market growth

·         Growing government initiatives and rising per capita income of the people will promote adoption of air transport, thus driving the aircraft cabin interior market growth in India.

·         Rapid modernization in aircraft components and interiors, retrofitting of interior cabins, and increasing demand for maintenance, overhaul and repair of aircrafts using new materials will boost the aircraft galley market growth.

·         Increasing demand of commercial aircrafts, growing consumer inclination towards air travel to save time and growing trend of customized interior are further accelerate the growth of the aircraft cabin interior aftermarket distribution channel.

“Rapid increment in air passenger traffic and high demand for new aircrafts will create novel growth opportunities for aircraft cabin interior market growth throughout the forecast period,” says the FMI analyst.

Competitive Landscape

Strict safety regulations are hindering the entrance of new market players in the aircraft component manufacturing. Long development cycle along with partnerships to leverage certain field expertise will promote the entry on new market players.

Market players are working to ensure sustainable supply chain in maintained in this constantly fluctuation aerospace industry. OEMs are collaborating with small companies that specialize in lighting system and seat manufacturing.

Key market players are working towards overcoming the delivery delays by expanding their supplier base. They are also looking towards strategic acquisition and penetrate emerging markets through new product development.

Diehl Stiftung & Co. KG developed a new airspace cabin for Airbus A320neo Family on behalf of its customer Airbus in June 2021. The new cabin offers more comfortable seating to the passengers along with largest luggage compartment.

Diehl Aviation also adopted new cabin lining and designed a novel lighting concept coupled with virtually touch free lavatories.

Prominent players operating in the aircraft cabin interior market are United Technologies Corporation, Zodiac Aerospace S.A., HAECO Group, Diehl Stiftung & Co. KG, Aviointeriors S.p.A., Geven S.p.A., Bucher Group, Panasonic Avionics Corporation, Turkish Cabin Interior Inc., SCI Cabin Interiors, Factorydesign, and Honeywell International Inc.

More Insights on the Global Aircraft Cabin Interior Market

In its latest report, FMI offers an unbiased analysis of the global aircraft cabin interior market, providing historical data for the period of 2018-2028 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of distribution channel (OEM and aftermarket), product type (sidewalls/liners, carts, overhead bins, seats, lavatory, monuments, windows, lights, IFEC, flooring ), aircraft type (narrow body aircrafts, wide body aircrafts, large body aircrafts ), application type (seating system, galley, cabin & structure, equipment & system ), across seven major regions (North America, Latin America, Europe, Asia Pacific excluding Japan, Oceania, Japan, and Middle East and Africa)

For more Information:

https://www.futuremarketinsights.com/reports/global-aircraft-cabin-interior-market

 

Comments

Post a Comment

Popular posts from this blog

Lightweight Automotive Body Panels Market Projected to Register at a CAGR of 5.5% by 2026

Future Market Insights delivers key insights on the global  lightweight automotive body panels market  in its latest report titled “ Lightweight Automotive Body Panels Market: Global Industry Analysis and Opportunity Assessment, 2016–2026. ” Global sales of lightweight automotive body panels is anticipated to be valued at US$ 99.6 Bn by 2016 end, witnessing a Y-o-Y growth of 3.9% over 2015. APEJ is projected to account for a volume share of 29.2% in the global market towards the close of 2016 and is expected to retain its dominance throughout the forecast period. Automotive body panels such as bumpers, hoods, door panels, roof, and trunk lids are manufactured using lightweight materials such as high-strength steel, aluminium, magnesium, and polymers and composites in order to provide desired strength with reduced weight. Lightweight automotive body panels help improve fuel economy and performance of vehicles by reducing the overall weight of the vehicle. About 25% reduction ...
Read more

Electric Scooters market Estimated to Exhibit 9.0% CAGR through 2031

  ESOMAR-certified consulting firm Future Market Insights’ (FMI) recent market survey forecasts sales of  electric scooters  to continue increasing between 2021 and 2031. As per the report, the market will reach  US$ 8.8 Bn  in 2021, leading to expansion at a healthy  9% CAGR . Growing environmental concerns, coupled with demand for reduced costs of commute, easy commutation, and emission control are primary factors encouraging the adoption of electronic vehicles across the world. These factors also will enable the electric scooters sales to total  US$ 8.8 Bn  in 2021. Growth forecasts remain positive for the market. While hindrances were likely amid COVID-19 induced restrictions, sales will recover at an impressive pace. FMI also forecasts the market to exhibit  5.5%  year on year growth in 2021. Increasing government-backed subsidies and rising concerns regarding decarbonization will spur demand for electric scooters in the upcom...
Read more

Watertight Doors Market Estimated to Exhibit 6.3% CAGR through 2031

  Watertight doors market witnessed sales of nearly 77,570 units by 2021 and is poised to register year on year growth of 6.7% in 2021. As per a study by Future Market Insights (FMI), buoyancy of the global watertight doors market can be attributed to- ·          Optimistic outlook of coastal and marine tourism ·          Surging rate of ocean-based activities ·          Rising focus on ship repair and maintenance ·          Flourishing seaborne transportation and trade Watertight Doors Market Federal initiatives to promote marine safety have worked in favour of high-scale production of marine components, such as watertight doors. For instance, the Government of Canada is introducing additional measures for enhancement of navigation safety and emergency response in the Canadian waters.  The measures were p...
Read more